LIC Jeevan Utsav Single Premium: When it comes to investment, people often think of the stock market first, but returns on stock market investments depend on market fluctuations. Investing in it can be risky. In this context, LIC has made two major announcements for its customers in the new year. The company has announced a new insurance plan and also offered an opportunity to revive long-lapsed policies. These two decisions will benefit customers who want insurance coverage along with a safe investment or whose policies have lapsed for some reason.
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Learn about LIC’s Jeevan Utsav Policy
LIC has announced that it will be launching a new insurance plan called “Jeevan Utsav Single Premium” from January 12, 2026. This will be an individual life insurance plan that will provide both insurance protection and savings benefits. This plan will be non-linked and non-participating, meaning it will not be affected by stock market fluctuations, and uncertain earnings like bonuses will not be associated with it. As a single premium plan, the customer will only have to pay the premium once, and in return, they will receive life insurance coverage for their entire life. Currently, LIC has not disclosed all the terms and conditions of this plan, but full details are expected to be revealed on the launch day.
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Lapsed Policies Can Be Revived
Along with this new plan, LIC has also given major relief to its existing customers. The company has launched a special revival campaign to reactivate lapsed policies. This campaign will run from January 1, 2026, to March 2, 2026. During this period, customers who reactivate their lapsed policies will receive a significant discount on late fees. According to LIC, a discount of up to 30 percent on late fees is being offered under this campaign.
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Investors will get a discount of Rs 5,000
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Under the revival scheme, if the sum assured of a policy is up to Rs 1 lakh, a maximum discount of Rs 3,000 will be given on late fees. For policies with a sum assured between Rs 1 lakh and Rs 3 lakh, this discount can be up to Rs 4,000. For policies with a sum assured of more than Rs 3 lakh, a maximum discount of up to Rs 5,000 will be given on late fees.
It is important to note that LIC has also set some conditions for this discount. This scheme will benefit only those policies whose first outstanding premium date falls within the last 5 years. Policies whose revival period has expired are not included in this scheme.